China calls on the US for more action to deal with financial crisis

China called Monday on the US to step up
moves aimed at dealing with the consequences of the world financial crisis,
reported dpa.

"We need help from everyone to cope
with the financial crisis," said Chinese Trade Minister Chen Deming in Berlin following a meeting with German Economics and Technology Minister Michael Glos.

But Chen called on the US to take more action to deal with the crisis that was triggered by a meltdown in the US mortgage market with the Chinese Trade Minister saying every nation needed to implement
its own measures.

The meeting, which formed part of the
regular economic consultations between Beijing and Berlin, came in the buildup
to this week's summit in Washington of the world's 20 biggest economies called
to discuss the world financial crisis.

Chen's visit to Berlin also followed Beijing's announcement Monday of a 4 trillion yuan (586 billion dollars) plan to bolster
growth in the country and as consequence to help counter a slump in exports as
the world economy slows.

The stimulus plan, said Chen, would help to
boost both incomes in China and private consumption.

The Chinese Trade Minister said that both Beijing and Berlin agreed that closer economic relations would contribute to the
stabilization of the world economy.

China along with India, Brazil and Saudi Arabia is to be among the key emerging powers represented at the Washington meeting of the Group of 20 which also includes world's leading industrial nations
such as Britain, France, Germany, Italy, Canada and the US.

For his part, Glos said that the
considerable currency reserves held by emerging economies meant they had a
special role to play in facing up to the financial crisis, which has sent share
markets into a tailspin and pushed the world economy to the brink of recession.

The German Economics Minister said that
both China and Germany agreed that action needed to be taken to help alleviate
the economic downturn that was now underway around the world.